U.S. Agriculture Secretary Dan Glickman announced on Nov. 28 the federal rule that requires packers to release contract and pricing information.
The final rule was published on Dec. 1 and takes effect after 60 days.
The rule establishes mandatory price reporting under the Livestock Mandatory Reporting Act of 1999. Pork packers who slaughter more than 100,000 head/year are required to report to USDA transaction details involving purchases and sales of livestock. Firms will be required to report transaction information for swine purchases three times/day.
USDA, through the Agricultural Marketing Service, will then provide the information to the public.
For more information, log on to www.ams.usda.gov/lsg/price.htm.